Housing Investment Platform Multifamily
The Housing Investment Platform Multifamily Invest Pilot (HIP Multifamily) is a multifamily investment program designed for the new construction and preservation of workforce rental housing units in the District. Investments will leverage DCHFA’s knowledge base and expertise in multifamily underwriting and asset management to manage risk.
HIP Multifamily will provide equity capital to local developers for new construction and preservation of workforce rental housing units in the District.
- Pilot will focus on small buildings (5-50 units)
- Investments will focus on producing housing units targeted to families earning between 60-120% of MFI
- Capital will be provided at a lower preferred return hurdle in exchange for affordability
HIP Multifamily Investment Terms
- Local developers with market knowledge, technical expertise and a demonstrated track record
- New construction, Substantial Rehabilitation, Moderate Rehabilitation and Mixed-Income Projects
- Completed projects must be affordable to households earning up to 120% of MFI
Program Fees & Requirements:
- Sponsor will provide guarantee of lien free completion
- Application & Placement Fee: $1,000 and 1% of invested equity
- Construction Monitoring Fee: $10,000
- Fund Investment Size: up to $2 million
Want to get involved with the HIP Multifamily Investment?
Contact us for more more information on how you can get involved with the HIP Multifamily Investment Pilot today.